David Stults is a partner of Kirkland’s market-leading Investment Funds Practice Group, advising private equity firms for over 10 years in all aspects of their business and operations, with a concentration on the structuring, formation, negotiation and operation of private investment funds, including buyout funds, growth equity funds, debt funds, real estate funds and other private investment vehicles, single asset funds and special purpose vehicles. Dave also focuses on representing private equity sponsors in connection with the organization, structuring, and operation of their management companies.

More specifically, as a leading private equity attorney, prominent private equity sponsors rely on Dave for his legal and commercial advice, judgment and creative solutions in connection with the formation of private equity funds and SPVs, as well as for other important complex matters such as developing new products and strategies, fund restructurings, continuation fund transactions, investment warehousing, facilitating mergers and acquisitions, negotiating seed capital and anchor investor agreements, cross fund transactions, addressing investor defaults, facilitating strategic GP level deals, implementing co-investment programs, developing succession plans and personnel management strategies, managing investor relations and PR/crisis management issues, debt financings, regulatory compliance, conflicts issues, and general corporate counseling. Dave’s experience extends to advising clients with respect to the broad array of issues and commercial matters that private equity firms encounter.

Representative Clients

Benford Capital Partners, Beecken Petty O’Keefe & Company, Chicago Pacific Founders, CIVC Partners, CORE Industrial Partners, Goldner Hawn, Keystone Capital, Longshore Capital, May River Capital, McNally Capital, Madison Dearborn Partners, Princeton Equity, Pritzker Private Capital, Pritzker Group, Provenance Manager, Shore Capital Partners, Soundcore Capital Partners, TripleTree Capital Partners, Vestar Capital Partners, Warren Equity Partners


Thought Leadership


Panelist, Private Equity Carried Interest Clawbacks: Fund Agreement Mechanisms and Tax Considerations, Strafford Publications Webinar, March 20, 2019


Admissions & Qualifications

  • 2011Illinois


  • Loyola University Chicago School of LawJ.D.summa cum laude2011

    Dean's List

    Loyola Law Journal, Executive Editor, Lead Articles

    International Law Society

    Loyola Business Law Clinic, Student Clinician

  • College of William & MaryB.A., International Relationsmagna cum laude2007